Biased Behavior and Stock Investment Decisions of Investors in Bali, Indonesia

Gama, Agus Wahyudi Salasa and Astiti, Ni Putu Yeni and Mitariani, Ni Wayan Eka (2023) Biased Behavior and Stock Investment Decisions of Investors in Bali, Indonesia. Matrik: Jurnal Manajemen, Strategi Bisnis dan Kewirausahaan, 17 (2): 2. pp. 123-135. ISSN p-ISSN: 1978-2853, e-ISSN: 2302-8890

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Abstract

Investment decisions are often affected by irrational behavioral factors that cause improper logical analysis. Herding and overconfidence are two behaviors that lead to biased decision-making, specifically regarding investment. Therefore, this study aimed to test the effect of herding and overconfidence on investment decisions moderated by financial knowledge and attitude. Using a sample of 267 stock investors, the test was conducted with PLS-SEM. The results showed that overconfidence positively influences individuals' investment decisions, while herding has no effect. Financial knowledge and attitude were found not to moderate this effect but could act as predictor variables with a significant positive impact on investment decisions.

Item Type: Article
Additional Information: Sim-AWSG-01
Uncontrolled Keywords: Herding; Financial Knowledge; Financial Attitude; Financial Behavior Overconfidence.
Subjects: F. EKONOMI DAN BISNIS > Ekonomi Akuntansi
Depositing User: kadek ganda rini
Date Deposited: 17 Nov 2023 02:29
Last Modified: 17 Nov 2023 02:29
URI: http://eprints.unmas.ac.id/id/eprint/4394

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